JULY 7th, 8:04pm: The trade is official, the Cavaliers announced.
JULY 6th, 9:06pm: The Bulls will send Mike Dunleavy to the Cavs, according to Adrian Wojnarowski of The Vertical (Twitter link). Cleveland will use a trade exception to bring Dunleavy to the team, Brian Windhorst of ESPN.com reports (Twitter link). LeBron James personally recruited Dunleavy as a free agent last summer, as K.C. Johnson of the Chicago Tribune mentions on Twitter.
The defending champs were reportedly looking for a wing player this summer and Dunleavy should be a nice addition. He shot 39.4% from downtown in 31 games for the Bulls last season.